A new report released by IFFO – the Marine Ingredients Organization found raw material production for fishmeal and fish oil improved in August, but the long term outlook is still gloomy.
According to data collected by IFFO from its members, August data showed higher fish meal and fish oil production globally compared to the same period last year. For the year to date, however, fishmeal production was still running 45 percent behind the same period of 2025, and fish oil production was down 26 percent.
The slight gains in August were associated with Chile, Spain, and the U.S., which pulled in “notably more raw material,” but the closure of Peru’s anchovy season will continue to weight on the overall totals.
“2026 is expected to deliver a reduction in the supply of marine ingredients, down to less than 4.6 million MT [metric tons] for fishmeal,” IFFO Market Research Director Enrico Bachis said. “This would represent the lowest global supply of fishmeal since the year 2016, when global supply was 4.53 million MT.”
Bachis said pelagic and demersal raw material is expected to be down from previous meals, while fishmeal from other species is expected to increase slightly.
“This year may also deliver a reduction in the global supply of fish oil down to 1.15 million MT,” he said. “This would represent the lowest global supply since the year 2016, when total fish oil production was estimated at around 1.13 million MT.”
IFFO said that El Niño will continue to remain a concern, with warming waters in Peru potentially continuing to suppress the anchovy catch – which represents 20 percent of global fishmeal and fish oil production.
